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Author: 


Sargent,  Aaron 


Title : 


The  theory  and  practice  of 
book-keeping  combined 

Place: 

Boston 

Date: 

1862 


MASTER   NEGATIVE  * 


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Sargent,  Aaron. 

The  theory  and  practice  of  book-keeping  combined.    By 
Aaron  Sargent.    Boston,  Swan,  Brewer  &  Tileston,  1862. 

44  p.  incl.  forms.    23  x  18*". 


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THE 


THEQllY  AND  TRiCTI 


OF 


BOOK-KEEPING 


COMBINED. 


BY 


AARON     S  A  R  G  E  ]Sr  T. 


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BOSTON: 
8WA.]Sr,   BEEAVER   &  TILESTON. 

1862. 


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THE 


THEORY  AND  PRACTICE 


OF 


BOOK-KEEPING 


COMBINED. 


BY 


AAROI^     SARaEI^T. 


BOSTON: 

SW^N,   BRET\^EIl    &   TILESTON". 

1862. 


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PREFACE. 


Entered,  according  to  Act  of  Congress,  in  the  year  1861, 

By    AARON    SARGENT, 

In  the  Clerk's  Office  of  the  District  Court  of  the  District  of  Massachusetts. 


li 


ELECTROTYPED   AT   THE 
BOSTON     STEREOTYPE    FOUNDRY. 


OOK-KEEPING  should  be  taught,  theoretically,  in  all  our  High  and  Grammar 

Schools,  though  it  may  require  actual  business  practice  and  experience  to  make 
[a  proficient  book-keeper. 

In  the  following  treatise,  it  has  been  the  aim  to  present  the  subject  in  so  plain 
and  simple  a  form,  that  when  the  learner  shall  have  occasion,  he  will  be  able  to 
carry  the  theory  into  practice,  and,  with  experience,  become  a  master  of  his 
'profession. 

The  Examples  for  Illustration,  with  the  pages  preceding  them,  are  intended  as 
rules  by  which  to  acquire  a  knowledge  of  the  study ;  and  the  Examples  for  Practice 
are  intended  as  problems  to  be  solved,  the  answers  being  given  in  the  aggregates 
of  each  Trial  Balance,  and  finally  in  the  net  gain  and  net  capital  at  the  time  of 
closing  the  Ledger. 


*  \' 


BOOK-KEEPING 


CONTENTS. 


I  ■»■  I 


PREFACE,         .... 

PURPOSE  OF  BOOK-KEEPING, 

BOOKS  USED  IN  BOOK-KEEPING, 

ACCOUNT?, 

EXAMPLES  FOR  ILLUSTRATION, 
Original  Entries, 
Posting, 

Closing  Accounts, 
Trial  Balance, 
Closing  the  Ledger, 
Re-opening  of  the  Ledger,  . 
Waste  Book, 
Form  of  Note  Book,   . 
Cash  Book,  .  .  .  , 

Index  to  Ledger, 
Ledgsr,         •  .  .  , 

MERCANTILE  FORMS, 

EXAMPLES   FOR  PRACTICE,  . 

QUESTIONS,    .... 


Page 
3 


ITS    PURPOSE. 


5 

5 

6 

6 

.   10 

10 

11  and  37 

11 

.   12 

.  13  to  16 

.   17 

.  18  to  25 

.   26 

.  27  to  36 

.      38 

41 

.      44 


(4) 


BOOK-KEEPING  is  the  recording,  in  blank 
books  made  for  the  purpose,  the  every-day 
business  transactions  of  the  Merchant,  Manufac- 
turer, or  Trader,  clearly,  concisely,  and  in  so  per- 
fect a  manner,  that  he  can  at  any  time  know  how 


much  property  he  has,  and  of  what  it  consists ;  how 
much  he  owes,  and  to  whom,  and  how  much  others 
owe  to  him,  and  who  they  are ;  and  whether  he 
is  doing  business  at  a  profit  or  a  loss,  and  how  much 
profit  or  loss. 


BOOKS. 


The  principal  books  used  in  Book-Keeping  are 
the  Cash  Book,  Waste  or  Day  Book,  and 
Ledger. 

The  Cash  Book  contains  the  original  entries 
(i.  e.,  the  first  records  or  entries)  of  the  transactions 
in  which  cash  forms  a  part ;  in  other  words,  an  ac- 
count of  all  cash  received  and  all  cash  paid. 

The  Waste  Book  contains  the  original  entries 
of  the  transactions  in  which  cash  forms  no  part. 

The  Ledger  contains  all  the  items  of  the  books 
of  original  entries,  transferred  therefrom,  and  ar- 
ranged, each  under  its  distinctive  head  or  title,  as 
will  be  explained.  The  process  of  transferring  is 
called  Posting. 

Other  books,  auxiliary  to  those  already  named. 


are  the  Inventory  Book,  Note  Book,  Invoice 
Book,  Sales  Book,  &c.,  according  to  the  nature 
of  the  business,  and  as  may  be  found  convenient. 
Sometimes  one  or  more  of  these  books  are  used  as 
books  of  original  entries,  and  the  posting  to  the 
Ledger  is  made  from  these  lw)oks ;  and  when  so 
used,  the  transactions  recorded  in  such  of  them  as 
are  so  used,  must  not  be  recorded  in  any  other  book 
of  original  entries. 

In  order  that  any  account  in  the  Ledger  may  be 
readily  found,  a  small  book,  called  the  Index,  ac- 
companies the  Ledger,  in  which  the  titles  of  all  the 
Ledger  accounts  are  alphabetically  arranged  ;  one 
or  more  pages  being  appropriated  to  each  letter  of 
the  alphabet. 


ACCOUNTS. 


Accounts  represent  property,  indebtedness  by 
or  to  those  with  whom  business  is  transacted,  and 
gain  and  loss  by  trade ;  and  are  designated  by  the 
titles  of  Stock,*  for  the  capital  employed  in  busi- 

♦  Note.  —  When  there  are  two  or  more  persons  in  a  firm,  the 
individual  names  of  its  members  are  used  in  lieu  of  the  word 
Stocky  and  each  is  debited  or  credited  in  his  own  name. 


ness ;  Cash,  for  money  in  bank,  or  in  store  or 
counting  room;  Merchandise,  for  general  arti- 
cles of  trade  ;  Shipment,  or  Adventure,  (naming 
the  vessel  by  which,  or  the  port  to  which,  shipped ; 
and  if  more  than  one  shipment  by  the  same  vessel 
or  to  the  same  place,  may  be  numbered,)  for  goods 
shipped  to  other  ports  to  be  sold  for  account  of  the 

(5) 


BOOK-KEEPING. 


shipper ;  Consignment  from,  (naming  the  person 
or  firm  from  whom  received ;  and  if  more  than  one 
consignment  from  the  same  person  or  firm,  may  be 
numbered,)  for  goods  received  from  others  to  be 
sold  for  their  account ;  Notes  Receivable,  for  all 
notes  made  and  payable  by  and  received /rom  oth- 
ers, and  also  for  all  drafts  drawn  <m,  and  accepted 
and  payable  hy,  others ;  Notes  Payable,  for  all 
notes  and  acceptances  given  and  payable  to  others; 
Real  Estate,  (naming  the  locality  ;)  Ships,  (nam- 
ing them ;)  Bank,  Insurance,  Railroad,  Man- 
ufacturing, or  other  Stock,  (naming  the  com- 
pany ;)  Persons,  Firms,  or  Companies,  (naming 
them;)   Commission,  charged  for  selling  goods,  or 
transacting  other  business  ;  Interest,  received  and 
paid;  Exchange,  on  remittances;  Expense,  in- 
cident to  the  business;    Profit    &   Loss,  (into 
which  all  accounts  representing  gain  or  loss  are 
finally  closed,  as  will  be  explained  ;)  and  Balance, 
(used    in    closing    the    Ledger,    as   will   be   ex- 
plained.) 

Every  account  has  a  debtor  (Dr.)  side,  — the  left 
hand  side;  and  a  credit  (Cr.)  side,  — the  right 
hand  side. 

A  thing  received  is  Dr.  to  the  equivalent  parted 
with ;  and  the  thing  parted  with  is  Cr.  by  the  equiv- 


BOOK-KEEPING. 


alent  received.  In  making  an  entry  of  a  transaction, 
then,  the  titles  of  two  accounts  are  to  be  named, 
tlie  one  being  made  Dr.  to  the  other ;  and  it  is  this 
which  gives  to  this  method  of  Book-Keeping  the 
name  of  "  Double  Entryr  Sometimes  it  requires 
more  than  one  thing  which  is  Dr.  to  be  equal  in 
amount  to  the  thing  which  is  Cr. ;  or  more  than 
one  thing  which  is  Cr.  to  be  equal  in  amount  to  the 
thing  which  is  Dr.  In  this  case  the  word  Sundries 
is  used,  at  the  commencement  of  the  original  entry, 
for  the  several  things  which  are  Dr.  or  Cr.,  and 
the  distinctive  titles  of  these  Sundries  enumerated 
below,  as  will  be  explained. 

In  making  an  original  entry  of  a  transaction,  four 
things  are  to  be  considered :  — 

1st.   The  date  of  the  transaction. 

2d.  The  titles  of  the  accounts  that  are  to  be  made 
Dr.  and  Cr. 

3d.  A  clear  and  detailed  statement  of  the  trans- 
action. 

4th.  The  sum  to  which  the  transaction  amounts 
in  dollars  and  cents,  expressed  :'n  figures. 

Let  it  be  remembered,  and  well  remembered, 
(for  upon  this  fact  depends  the  correct  entering  of 
all  the  original  entries  in  Book-Keeping,)  that  what 
is  received  is  Dr.,  and  what  is  parted  with  is  Cr, 


EXAMPLES    FOR    ILLUSTRATION. 


ORIGINAL    ENTRIES. 

Edward  Wilson  commenced  business  in  Boston 
on  the  second  day  of  January,  1860,  with  500  bbls. 
Flour,  worth  $7  per  bbl. ;  200  bbls.  Pork,  worth 
$15  per  bbl.;  B.  D.Jameson's  Note  for  .$2500, 
dated  Dec.  5,  1859,  payable  in  6  months;  and 
$5000:  and  he  owes  John  Wheeler  a  Note  for 
$1000,  dated  Nov.  14,  1859,  payable  in  4  months. 

The  original  entries  from  these  facts  or  items  are 
now  to  be  made.  In  the  first,  (Flour,)  second, 
(Pork,)  third,  (B.  D.  Jameson's  Note,)  and  fifth, 
(Note  to  John  Wheeler,)  items,  the  title  of  Cash 


forms  no  part  of  the  entries  to  be  made,  and  the 
original  entries,  therefore,  must  be  made  in  the 
Waste  Book.  What  has  been  received  ?  In  the 
first,  second,  and  third  items,  Flour,  Pork,  and  B. 
D.  Jameson's  Note,  have  been  received  into  the 
business.  Merchandise,  for  the  first  and  second 
items,  and  Notes  Receivable  for  the  third  item,  are, 
therefore.  Dr.  What  has  been  parted  with? 
Edward  Wilson  has,  from  himself  as  an  individ- 
ual, received  into  his  business  Flour,  Pork, 
and  B.  D.  Jameson's  Note;  Stock,  therefore,  for 
this  capital,  is  Cr.  The  entry,  then,  must  be 
Sundries  (for  the  Merchandise  and  Notes  Receiv- 
able) Dr.  to  Stock.      In  the  fifth  item  he  has  made 


himself  Dr.  to  this  Note  that  he  owes  John  Wheel- 
er and  which  he  brings  into  his  business.     Stock, 
therefore,  is  (not  Cr.  as  before,  but)  Dr.     He  has 
parted  with  his  Note.     Notes  Payable,  therefore,  is 
Cr.     The  entry,  then,  must  be  Stock  Dr.  to  Notes 
Payable.     The  Waste  Book  entries  for  the  Flour, 
Pork,  B.  D.  Jameson's  Note,  and  Note  to  John 
Wheeler,  will,   in   form,    (remembering  the    four 
things  necessary  to  be  considered  in  making  an  en- 
try,) stand  as  entered  on  page  13  of  this  book,  first 
and  second  entries.     (Except  that  the  figures  in 
the  second  space   from  the  left,  called  the  post- 
marks, and  denoting  the  folio  (i.  e.,  page)   of  the 
Ledger  to  which  the  item  of  the  account  named  on 
the  line  with  it,  in  the  third  space,  is  posted,  are  not 
placed  in  their  position  until  the  posting  is  performed; 
as  will  then  be  explained.)      In  the  fourth  item, 
($5000,)  the  title  of  Cash  forms  a  part  of  the  entry 
to  be  made,  and  the  original  entry,  therefore,  must 
be  made  in  the  Cash  Book.     What  has  been  re- 
ceived ?     $  5000  have  been  received  into  the  busi- 
ness.    Cash,  therefore,   is    Dr.      What   has   been 
parted  with?     Edward  Wilson  has,  from  himself  as 
an  individual,  received  into  his  business   $5000. 
Stock,  therefore,  for  this  capital,  is  Cr.     The  entry, 
then,  must  be  Cash  Dr.  to  Stock,  and  on  the  left 
hand  page  of  the  Cash  Book ;  and  will,  in  form, 
(except  the  post-mark,)  stand  as  entered  on  page 
18,  first  entry. 

In  actual  business,  the  original  entries  having 
been  made,  other  entries  of  the  same  may  be  made 
in  such  auxiliary  books  as  may  be  found  necesvsary 
or  convenient. 

On  the  12th  Jan.,  100  bbls.  of  the  Flour  were 
sold  to  O.  S.  Littlefield,  on  account,  at  $8  per  bbl. 
What  has  been  received  ?  A  claim  against  O.  S. 
Littlefield  for  the  amount  of  100  bbls.  Flour,  at  $8 
per  bbl.  0.  S.  Littlefield,  therefore,  is  Dr.  What 
has  been  parted  with?  Merchandise.  Merchan- 
dise, therefore,  is  Cr.  The  entry  in  the  Waste 
Book,  then,  must  be  as  entered  on  page  13. 

On  the  18th  Jan.,  100  bbls.  of  the  Pork  were  sold 


to  George  Lincoln,  at  $20  per  bbl.,  cash.  What 
has  been  received  ?  Not  —  as  in  the  sale  of  the 
Flour  on  the  12th  —  a  claim  against  the  purchaser, 
but  Cash.  What  has  been  parted  with  ?  Merchan- 
dise. The  entry  in  the  Cash  Book,  then,  must  be 
as  entered  on  page  18. 

On  the  19th  Jan.,  bought  of  Brastow  &  Co.  50 
bbls.  Molasses,  containing  1875  gallons,  at  25  cents 
per  gallon,  cash.  Merchandise — received  —  is  Dr. ; 
Cash  —  parted  with  — is  Cr.  The  entry,  then, 
must  be  on  the  right  hand  page  of  the  Cash  Book, 
as  on  page  19. 

On  the  23d  Jan.,  bought  of  Charles  Crosby  50 
bales  of  Gunny  Bags,  at  10  cents  per  bag,  (Gunny 
Bags  are  packed  250  in  a  bale;  consequently  there 
would  be  12,500  bags  in  50  bales,)  and  shipped  them, 
by  the  ship  Staghound,  to  San  Francisco,  consigned 
to  Henry  Howe,  with  instructions  to  sell  and  remit 
the  proceeds.  The  Gunny  Bags  were  paid  for  by 
a  note  dated  the  same  day,  payable  in  4  months. 
Merchandise  has  been  received ;  but  it  is  Merchan- 
dise which  has  the  title  of  Shipment  or  Adventure, 
and  may  be  called  Adventure  per  Staghound,  No.  1. 
Notes  Payable  is  Cr.  The  entry  must  be  as  on 
page  13. 

On  the  26th  Jan.,  O.  S.  Littlefield  paid  cash  for 
the  Flour  which  he  bought  on  the  12th.  The  entry 
must  be  as  on  page  18. 

On  the  27th  Jan.,  paid  premium  of  insurance  on 
the  Gunny  Bags,  from  Boston  to  San  Francisco ; 
(insured  by  the  Washington  Insurance  Co.  for 
$1400,  at  3  per  cent.,  with  the  usual  charge  of  $1 
for  the  policy  of  insurance ;)  on  the  28th,  paid 
truckage  on  the  same,  $5 ;  and  on  the  30th  paid 
wharfage,  $5.  The  entries  must  be  as  on 
page  19. 

On  the  2d  Feb.,  shipped  the  remaining  100  bbls, 
of  Pork  on  hand,  by  the  ship  Staghound,  to  San 
Francisco,  consigned  to  Henry  Howe,  with  instruct 


8 


BOOK-KEEPING. 


tions  to  sell  and  remit  the  proceeds.  The  transac- 
tion requires  only  a  change  in  accounts,  and  the 
entry  must  be  as  on  page  14. 

On  the  27th  Feb.,  the  State  Bank  discounted  the 

note  of  B.  D.  Jameson,  which  was  dated  Dec.  5, 

1809,  and  which  would  be  due  June  8,  1860  •  (for 

every  note,  draft,  or  acceptance  is  entitled  to  three 

days   grace,"  after  the  expiration  of  the  time  for 

>»hich  «  ,s  given,  unless  the  contra.7  is  expressed 

upon  ,ts  face ;  therefore  this  note,  dated  Dec.  5, 1859 

would  be  payable  June  8,  1860 ;  usually  expressed 

t"!^    r  /'''^  '"''  ""'"•  •''^''»'=''"g  »»•«  interest 
for  the  time  from  Feb.  27  to  June  8,  the  Bank  paid 

the  balance  m  cash.  Cash  (for  the  amount  received 
from  the  Bank)  and  Interest  (for  the  amount  of 
mterest  or  discount  deducted  by  the  Bank)  are  the 
Drs.,  and  Notes  Receivable  is  Cr.  Two  entries 
(one  m  the  Waste  Book  and  one  in  the  Cash  Book) 
are  to  be  made  for  this  discounted  note,  and  mu/t 
be  as  on  pages  14  and  18. 


On  th  20th  April,  50  bbls.  Molasses,  gauging 
1870  gaUons,  were  sold  to  George  T.  Knappfof 
Portland,  on  account,  at  30  cents  per  gallon :  and 
on  the  27th,  50  bbls.  Flour  were  sold^to  him  1 
account,  at  $8i  per  bbl.  The  entries  must  be  as 
on  page  14.  "^ 

T  ^Vt  ^l*  ^^"^'  ^"^  ^^^'-  ^^'o"  ''^e  sold  to 
Joseph  Marshall,  at  $8J  per  bbl.,  cash.  Entry  on 
page  20.  ^ 


BOOK-KEEPING. 


9 


Joseph  Marshall,  at  $8^  per  bbl.,  payable  in  6 
months,  and  his  note  for  the  amount  was  received 
in  payment.     The  entry  must  be  as  on  page  14. 

On  the  3d  March,  paid  premium  of  insurance  on 
the  Pork  from  Boston  to  San  Francisco,  (insured 
by  the  Frankhn  Insurance  Co.  for  Si  600,  at  3 
per  cent.,  with  $1  for  policy;)  on  the  5th,  paid 
trackage  on  the  s.nme,  $4;  and  on  the  7th,  paid 
wharfage,  $4.     The   entries  must  be  as  on  pa^e 

On  the  17th  March,  paid  note  to  John  Wheeler, 
for  $1000,  due  Mareh  »/„.  The  entiy  must  be 
as  on  page  21. 


On  the  1st  May,  drew  a  draft  on  George  T 
Kuapp  for  amount  of  bill  against  him,  ($975,)  a 
five  days'  sight,  (i.  e.,  eight  days  after  it  was  pre- 
sented to  and  accepted  by  him,  he  would  be  required 
o  pay  It,)  and  sent  it  to  him  for  acceptance.  On 
the  od,  received  the  draft  back,  he  having  accepted 
It,  by  writing  across  its  face, 

after  which  it  must  be  called  an  Acceptance.  Entry 
on  page  15.  •' 


On  the  20th  March,  bought  of  G.  O.  Clark  500 
bbls.  Rosin,  at  $1 J  per  bbl.,  cash,  and  shipped  it  by 
sh,p  Commodore,  bound  for  Liverpool,  consigned  to 
John  Howard,  with  orders  to  seU,  and  remit  the 
proceeds.     The  entry  must  be  as  on  page  21 


On  the  9th  May.  sent  the  acceptance  of  Geo.^ 

r.    Knapp    (which   would   be   due   May  7,„)  To 

Portland  for  collection ;  on  the  lOtl^he  paid  it,  and 

on  the  11th  the  money  was  received.     Entry  on 

page  22.  •' 

.   °"i?^2/**%'P^d  note  to  Charles  Crosby, 
for  $12o0,  due  May  V^     Entiy  on  page  23. 

On  the  29th  May,  received  from  John  Howard 
account  sales  of  the  Kosin  which  was  consigned  to 
^im  by  the  ship  Commodore,  and  also  a  Bill  of 
Exchange  (draft)  on  London  (i.  e.,  on  some  bank- 
ing house  in  London)  for  the  net  proceeds,  amount- 
mg  to  £210  stg.,  (210  pounds  steriing.)  This  BUI 
of  Exchange  was  sold  to  C.  F.  Hall,  at  9  per  cent 

Tr^T:    ?^^  """"'"^  P"^"-  ^«'»«  of  the  £  stg.  is" 
«  4.44J.)     Entry  on  page  22. 

On  the  1st  June,  received  by  ship  Monmouth, 
from  New  Orleans,  25  hhds.  Sugar;  a  consignment 


from  John  Babcock,  of  New  Orleans,  and  paid  to  the 
ship  freight,  at  $  4  per  hhd.  On  the  2d,  paid  truck- 
age, $5  ;  and  on  the  4:th,  wharfage,  $5.  Entries  on 
page  23. 

On  the  4th  June,  sold  the  Sugar  which  was  re- 
ceived from  John  Babcock,  and  which  weighed 
41,237  lbs.,  to  John  G.  Emerson,  at  6  cents  per  lb., 
cash.  Charged  the  consignment  a  commission  of 
2^  per  cent,  on  the  amount  of  the  sale.  Sent  account 
sales  to  J.  B.,  requesting  him  to  draw  (his  draft) 
for  the  net  proceeds  —  $  2302.37  —  (i.  e.,  for  the 
amount  received  for  the  Sugar,  less  the  freight, 
truckage,  wharfage,  and  commission.)  Entries  on 
pages  15  and  22. 

On  the  12th  June,  bought  10  shares  Western 
Railroad  Stock,  at  $100  per  share,  cash.  Entry  on 
page  23. 

On  the  15th  June,  bought  of  G.  O.  Clark,  400 
bbls.  Rosin,  at  $1^  per  bbl.,  cash,  and  shipped  it  by 
ship  Sea  Flower,  bound  for  Liverpool,  consigned  to 
John  Howard,  with  orders  to  sell,  and  remit  the 
proceeds.     Entry  on  page  25. 

On  the  18th  June,  bought  of  George  Lincoln  the 
schr.  Union,  for  $  3000,  and  paid  for  her,  one  half 
in  cash,  and  one  half  by  note  at  4  months.  En- 
tries on  pages  15  and  25. 

On  the  20th  June,  received  from  Henry  Howe 
account  sales  of  the  Gunny  Bags  and  the  Pork, 
consigned  to  him.  The  net  proceeds,  as  appears 
by  the  account  sales,  amount  to  $1690  on  the 
Gunny  Bags,  and  $1495.25  on  the  Pork.  Also 
received  from  him,  on  account  of  the  proceeds  of 
said  Gunny  Bags  and  Pork,  a  draft  on  C.  F.  Hall 
for  $  2000,  (which  amount  has  been  received  from 
C.  F.  H.,)  for  which  draft  H.  H.  paid  in  San  Fran- 
cisco, in  addition  to  the  $2000,  «Kchange  at  3  per 
cent,  on  the  same,  or  $60,  and  for  which,  as  well 
as  the  $2000,  he  must  be  credited. 

In  the  example  on  page  8,  of  net  proceeds  of  the 
Rosin,  there  was  no  necessity  of  debiting  the  con- 

2 


signee  (or  seller  of  the  goods)  with  the  amount  of 
the  net  proceeds,  and  then  crediting  him  with  the 
cash,  because  the  remittance  was  in  full  for  the  net 
proceeds,  and  crediting  the  Adventure  by  debit- 
ing Cash  was  all  that  was  necessary ;  but  in  the 
above  example,  only  a  part  of  the  proceeds  of  two 
adventures  has  been  received,  the  balance  remain- 
ing due  from  the  consignee ;  and  as  it  is  also  un- 
certain how  much  of  the  remittance  belongs  to  each 
adventure,  it  will  be  necessary  to  debit  Henry 
Howe  with  the  amount  of  net  proceeds  of  the  Ad- 
ventures, and  credit  him  with  Cash  as  received, 
and  Exchange,  until  they  shall  equal  in  amount 
the  net  proceeds.  Entries  on  pages  15,  16, 
and  24. 

On  the  25th  June,  paid  John  Babcock's  draft, 
payable  at  sight,  for  $  2302.37,  being  for  amount  of 
net  proceeds  of  Sugar,  as  per  account  sales  sent 
him  on  the  4th  inst.     Entry  on  page  25. 

On  the  30th  June,  received  from  Henry  Howe, 
in  full  for  balance  due  for  net  proceeds  of  the 
Gunny  Bags  and  Pork,  a  draft  on  C.  F.  Hall  for 
$1092.47,  (which  amount  has  been  received  from 
C.  F.  H.,)  for  which  draft  H.  H.  paid  3  per  cent, 
exchange,  or  $32.78.  Entries  on  pages  16  and 
24. 

Exchange  account  having  been  debited  with  the 
exchange  paid  in  San  Francisco  on  the  proceeds 
of  the  two  Adventures,  it  will,  be  necessary  to  debit 
the  Adventures  and  credit  Exchange  account  with 
this  exchange,  in  proportion  to  the  amount  of  the 
net  proceeds  of  each  adventure.  The  exchange 
was  paid  on  the  amount  remitted,  and  the  net  pro- 
ceeds in  San  Francisco,  therefore,  would  be  103 
per  cent.  \%%  of  the  net  proceeds  of  each  adven- 
ture would  be  the  remittance,  and  the  remaining 
t8^3  would  be  the  exchange  oif  the  remittance. 
Entry  on  page  16. 

On  the  30th  June,  paid  rent  of  Store,  $400; 
Postage  bill,  $1.70 ;  Stationery,  $  15.20.  Entries 
on  page  25. 


10 


BOOK-KEEPING. 


POSTING. 


Il 


The  foregoing  make  a  connected  series  of  busi- 
ness transactions,  extending  over  a  space  of  six 
months.  It  is  customary,  in  actual  business,  to 
post  to  the  Ledger  each  day,  week,  or  month,  as 
convenience  or  necessity  may  require ;  but  it  was 
thought  best,  in  the  preceding  examples,  to  explain 
the  manner  of  making  original  entries  in  some  of 
the  more  important  forms  of  busmess  transactions 
before  treating  of  the  Ledger. 

We  will  now  proceed  with  the  Posting  ;  i.  e.,  the 
collecting  in  the  Ledger,  from  the  books  of  original 
entries,  all  the  items  of  the  several  accounts,  each 
account  on  a  separate  page  of  the  Ledger,  or  part 
of  a  page,  as  it  may  be  judged  will  be  required, 
commencing  with  the  first  entry  in  the  Waste  Book, 
and  posting,  by  the  month,  the  entries  in  the  Waste 
Book  and  Cash  Book.     The  first  account  is  Stock, 
which  is  opened  by  writing  at  the  head  of  the  first 
page  in  the  Ledger  the  word  Stock,  with  Dr.  at  its 
left  and  Or.  at  its  right,  in  letters  much  larger  than 
ordinary  handwritmg.     The  first  space  from  the 
left   below  the    heading    (on   either   the   Dr.   or 
Cr.  side  of  the  Ledger  page)  is  for  the  date,  the 
second  space  from  the  left  for  the  title  of  the  ac- 
count to  which  the  account  named  at  the  head  of 
the  page  is  Dr.  or  by  which  it  is  Cr.,  the  third  space 
for  the  folio  of  the  book  from  which  the  account  is 
posted,  and   the   fourth  and  fifth  spaces  for  the 
amount  in  dollars  and  cents  for  which  the  account 
is  to  be  debited  or  credited. 

Sundries  Dr.   to   Stock.      Stock,  then,   is   Cr. 

^  S  by  I  <^un^t^\  as  may  be  seen  by  refer- 
ring to  foHo  |/|  of  the  Waste  Book,  for  \\^000\oo\, 
and  in  form  wiU  stand  in  the  Ledger  as  posted  on 

page  27.  » 

The  item  having  been'  posted,  the  next  thing  to 
be  done  (m  order  to  know  at  any  subsequent  time 
that  the  item  has  been  posted,  and  also  to  know  the 
page  of  the  Ledger  to  which  it  has  been  posted)  is 
to  place  the  post-mark  (a  figure  denoting  the  Led- 


ger folio)  in  the  second  space  from  the  left,  in  the 
book  from  which  it  has  been  posted,  and  on  a  line 
with  the  title  of  the  account  in  the  third  space;  and, 
finally,  in  the  Index,  under  the  letter  S,  write  the 
title  of  the  Ledger  account,  and  at  its  right  the 
folio  of  the  Ledger  upon  which  the  account  may  be 

found. 

Posting  an  account,  then,  consists  in  its  complete- 
ness of  entering  in  the  Ledger,  placing  the  post- 
mark and  (unless  it  has  been  done  at  some  previ- 
ous posting  to  the  same  account)  the  indexing. 

The  Cr.  side  of  the  entry  having  been  posted, 
the  Dr.  side  must  next  be  taken.  The  Drs.  are 
Merchandise  and  Notes  Receivable.  Merchandise  ' 
is  Dr.  to  Stock  $6500,  and  Mtes  Receivable  is  Dr. 
to  Stock  $2500,  and  they  will  stand  as  posted  on 
pages  27  and  28. 

The  otlier  Waste  Book  entries  for  the  month  of 
January,  in  their  order,  are  posted  m  the  same 
manner ;  after  which  the  Cash  Book  entries  for  the 
month  may  be  posted,  commencing  with  Gash  Dr. 
to  Stock.     Stock  is  Cr.  by  Cash  $5000,  as  posted 

on  page  27. 

No  Cash  account  is  opened  in  the  Ledger,  as  it 
would  only  be  a  repetition  of  the  Cash  Book,  which 
of  itself  is  a  Cash  account,  and  therefore  only  one 
posting  need  be  made  to  the  Cash  Book  entries, 
though  there  is  no  objection  to  opening  a  Cash  ac- 
count in  the  Ledger  if  it  should  be  preferred. 

The  other  Cash  Book  entries  for  the  month  of 
January  being  posted  in  their  order  and  to  their 
several  accounts,  the  posting  of  the  Waste  Book 
and  Cash  Book  entries  for  the  succeeding  months, 
month  by  month,  follow. 


BOOK-KEEPING, 


11 


CLOSING   ACCOUNTS. 

Whenever  any  Ledger  account  balances,  i.  e., 
when  the  Dr.  ^d  Cr.  sides  are  equal  in  amount, 
close  the  account  by  drawing  single  lines  under  the 
money  spaces,  adding  the  amounts  above,  and  pla- 
cing the  sum  under  the  line,  and  then  finish  by 
drawing  double  lines  under  the  sum,  and  a  single 


Ime  at  their  left,  about  one  fourth  across  the  title 
of  account  space,  commencing  at  the  left.-  An  ac- 
count balancing  itself,  and  closed,  will  stand  as  on 
page  29,  first  account. 

Sometimes  an  account  may  be  closed,  which  in 
itself  does  not  balance.  An  Adventure  account,  for 
instance,  if  the  proceeds  have  been  received,  may 
be  made  to  balance  by  debiting  it  to,  or  crediting 
I  it  by,  (as  the  case  may  be,)  Projit  ^  Loss  for  the 
amount  of  the  gain  or  loss,  as  on  page  31,  first 
account ;  by  which  it  will  be  seen  that  the  amount 
received  for  the  Rosin  was  $1017.33,  and  that  the 
cost  was  $750.  The  difference,  ($267.33,)  which 
is  to  the  credit  of  the  Adventure,  is  the  gain  on  the 
Rosin.  Now,  if  the  account  has  been  credited  with 
$267.33  more  than  it  has  been  debited,  it  must  be 
balanced  or  closed  by  debiting  it  with  this  amount, 
and  if  the  account  is  debited,  some  account  must  be 
credited.  As  this  balance  of  $267.33  is  the  gain 
on  the  Adventure,  therefore  Profit  &  Loss  account 
must  be  credited. 


TRIAL    BALANCE. 

At  the  close  of  each  month,  after  all  the  original 
entries  have  been  posted,  it  is  customary  to  take  a 
Trial  Balance  of  the  Ledger ;  i.  e.,  to  take  off*  on 
paper  the  balances  of  the  several  accounts,  includ- 
ing the  balance  from  the  Cash  Book,  to  see  if  the 
posting  has  been  done  without  error,  by  making  the 
sum  of  the  balances  of  the  Drs.  and  of  the  Crs. 
equal  in  amount,  as  on  page  37. 


CLOSING   THE   LEDGER. 

In  actual  business,  it  is  the  practice  to  take  an 
account  of  the  stock  in  trade  on  hand,  and  close 
the  Ledger,  once  a  year ;  but  it  will  answer  every 
purpose  to  close  the  foregoing  at  the  termination  of 
the  six  months. 

The  object  of  closing  the  Ledger  is  lo  ascertain 
the  amount  of  gain  or  loss  since  the  opening  of  the 
books,  or  since  the  last  closure,  and,  consequently, 


to  ascertain  the  amount  of  net  capital-  at  the  time 
of  closing. 

All  the  Ledger  accounts  except  Stock,  Profit  & 
Loss,  and  Balance,  are  closed  by  their  several  bal- 
ances being  transferred  either  to  Profit  &  Loss, 
to  Balance,  or  in  part  to  each  of  these  two  ac- 
counts. Accounts  representing  property,  and  indebt- 
edness by  or  to  others,  must  always  be  closed  with 
Balance  for  the  amount  of  the  property  or  indebt- 
edness ;  and  those  representing  gain  or  loss  may 
always  be  closed  with  Profit  &  Loss  for  the 
amount  of  the  gain  or  loss.  Profit  &  Loss  and 
Balance  accounts  are  closed  by  their  balances  being 
transferred  to  Stock ;  and  these  last  two  transfers 
will  of  necessity  close  Stock  account,  and  leave  the 
Ledger  closed.  The  balance  transferred  from  Profit 
&  Loss  to  Stock  will  show  the  net  gain  or  loss, 
(as  on  page  32,)  and  the  balance  transferred  from 
Balance  to  Stock  will  show  the  net  capital  (as  on 
page  36)  at  the  time  of  closing. 

The  accounts  may  be  taken  in  their  order,  com- 
mencing with  Merchandise.    The  Dr.  side  of  the 
account  shows  the  cost,  and  the  Cr.  side  the  amount 
of  the  sales.     If  aU  the  merchandise  has  been  sold, 
the  account  may  be  closed   with  Profit  &   Loss 
alone,  and  the  Trial  Balance  will  show  for  what 
amount ;   hut  if  any  part  remains  unsold,  the  ac- 
count must  be  credited  by  Balance  for  the  value  of 
the  portion  unsold,  and  then  closed  with  Profit  & 
Loss.     The  Trial  Balance  for  June  shows  a  Cr. 
balance  of  $743.75  ;  but  by  taking  account  of  stock, 
it  will  be  found  that  50  bbls.  Flour  (say  worth  $8 
per  bbl.)  remain  unsold.      Merchandise   account, 
then,  must  be  credited  by  Balance  $400,  and  Bal- 
ance account  must  be  debited  to  Merchandise  $400. 
The  Cr.  balance  of  Merchandise  is  now  $1143.75, 
and  the  account  may  be  closed  by  debiting  it  to 
Profit  &  Loss,  and  creditmg  Profit  &  Loss  by  Mer- 
chandise. 

Notes  Receivable.  The  balance,  if  any,  must 
be  on  the  Dr.  side,  and  for  the  amount  of  the  notes 
on  hand ;  consequently  the  account  must  be  closed 
with  Balance,  and  the  Trial  Balance  will  show  for 
what  amount. 


12 


BOOK-KEEPING. 


Notes  Payable.  Th6  balance,  if  any,  must 
be  on  the  Cr.  side,  and  for  the  amount  of  the  notes 
outstanding;  consequently  the  account  must  be 
closed  with  Balance. 

O.  S.  LiTTLEFiELD.  The  account,  having  pre- 
viously balanced  itself,  has  already  been  closed. 

Adventures  per  Staghound,  Nos.  1  and  2. 
The  proceeds  having  been  received,  these  accounts 
may  be  closed  with  Profit  &  Loss. 

Interest.  The  Dr.  side  shows  the  amount  paid, 
and  the  Cr.  side  the  amount  received,  and  the  bal- 
ance the  gain  or  loss ;  consequently  the  account 
may  be  closed  with  Profit  &  Loss. 

Adventure  per  Commodore.  The  account 
has  already  been  closed. 

George  T.  Knapp.     Closed. 

Consignment  from  John  Babcock.     Closed. 

Commission.  The  Dr.  side  shows  the  amount 
paid,  and  the  Cr.  side  the  amount  received,  and  the 
balance  the  gain  or  loss  ;  consequently  the  account 
may  be  closed  with  Profit  &  Loss. 

ScHR.  Union.     As  she  is  still  on  hand,  the  ac- 
count must  be  closed  with  Balance. 
Henry  Howe.     Closed. 
Exchange.     Closed. 

Western  Railroad  Stock.  All  the  shares 
which  were  bought  are  still  on  hand,  and  the  account 
must  be  closed  with  Balance. 

Adventure  per  Sea  Flower.  As  the  pro- 
ceeds have  not  been  received,  the  account  must  be 
closed  with  Balance. 

Expense.  The  Dr.  side  shows  the  amount  paid, 
and  the  Cr.  side  the  amount  received,  and  the  bal- 


ance the  gain  or  loss ;  consequently  the  account  may 
be  closed  with  Profit  &  Loss. 

Profit  &  Loss.  After  the  closures  and 
transfers  as  above,  the  Cr.  side  wiU  show  the  whole 
amount  of  the  several  gains,  and  the  Dr.  side  the 
whole  amount  of  the  several  losses ;  and  the  bal- 
ance the  net  gain  or  loss.  The  account  may  be 
closed  with  Stock. 

Balance.  After  the  closures  and  transfers  as 
above,  and  including  the  balance  from  the  Cash 
Book,  the  Cr.  side  will  show  the  whole  amount  of 
debts  or  liabilities,  and  the  Dr.  side  the  whole  amount 
of  assets  or  property,  and  the  balance  the  net  capitaL 
The  account  must  be  closed  with  Stock. 

Stock.  The  balances  having  been  transferred 
from  Profit  &  Loss  and  Balance,  the  account  will 
be  found  to  be  closed. 

The  balance  from  Profit  &  Loss  shows  the  net 
gain  to  be  ^1246,  and  the  balance  from  Balance 
shows  the  net  capital  to  be  $14,246. 


RE-OPENING   OF  THE  LEDGER. 

If  it  is  not  intended  to  continue  business,  the 
Ledger  will  remain  closed ;  but  if  business  is  to  be 
continued,  the  balances  of  all  those  accounts  that 
were  closed  with  Balance,  includmg  Stock,  must  be 
opened  by  bringing  down  the  balances  with  which 
the  accounts  were  closed,  on  the  opposite  side,  of 
course,  from  which  the  balance  was  used  in  closing 
the  account,  and  the  Ledger  will  then  be  ready  for 
future  postings. 


WASTE    BOOK. 


13 


,.^ob^07ij      i^cmuaryi^i  J^^   '/o  00. 


/ 


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3 
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200    ..     'M^td,     ..  //5      -       3000.00 


'0.      /a77te<u}n'd 


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(^o^  yOO  ^.  (^fouz  ^^  dcm  fa)  / ^ fiez  ^ 


23 


Qytdi/en^aze  ¥iez   G/^adcurK/,   OA^.  / 

^z.  /o   GM^^   ^ayad/e 

«^d? V  o/  ^nazced  ^^o^da  SO  Oa^  o/  ^-{2unnu 
m^i^aad  (a)  -/O  c.  /lez  vaa,  ana  ao/i/e  /uttz  m?i^ 
no^jWZ  me  amount,  c/a/ea  /ncd  aau,/iauaO^ in 
4-  mod,  &ni/i>/iea  ^de  <Mme  ^o  G^an  Q^ian^ 
ccaco/iez  <tdtA  &(a^douna,conManea^  (^cenz?^ 
(^^zaedaz  4a^  ana^e{u^n^:  SO  Oa^i),  /2,SOO 
daod  (a)  ^Oc.  * 


(JSOO 


2SOO 


/OOO 


OO 


OO 


(900 


OO 


/2SO 


00 


QOOOPO 


/OOO  00 


OO 


&00 


OO 


/2SO 


OO 


ll 


14 


WASTE    BOOK. 


^od^o/i,   (^e/aiazu  J^,  /^^. 


4 


4 
2 


Q^ventuze  /le^   O/^adounc/,  Q/^o.  2 

^:z)z.   {o  Q^Cezcdan</Me 

G/dc/i/iee/  /wm  <p^te  /OO  oo^.   ^Fot^  ^o  (^an 

(S/^iancMco   /lei    d-ni/i  GyifaaAouTic/,  condM^iie(/ 

va/uea  a^  ^ ^^  /^^  /^^ 

27 


2 
/ 


^^oun^   ^   (Mi^e     ^and   on    ^.    ^, 

3  Tnonaiii  /2  c/aud 
Q^azcd  / 


/500 


OO 


5 
/ 


5 
/ 


^i)t.   /o  G^Cezcno/TiaMe 

mid  aay,  Aauao^ in  O  monmd,d^z  /OO  oodt. 
Q^a^uz  aoM  mm,  (a)  Ji  ^\  /lez  vod 

Q//izi/20  


Q::/)z.  €o  (^^Cezcnanatt^ 
Q^oz  SO  O^^.  Q^ooui4iteij  <wu/  dim 

/^yS  aaud.   (a)  30  c.   /lez  aa^. 

27 


42 


50 


/500 


<9/2 


%^€ozae  Gi/.  <^^a/i/z         ^-^  yy     ^ 

^    ^  //         ^z.  €o  (^^zcdanc/iw 

<^ot  50  dM.  (^dniz  <fod/  dim  (a)  / ^\  /lez  ddd. 


' 


5(^2 


50 


50 


4/2 


50 


OO 


42 


SO 


^/2 


SO 


S^2 


4/^ 


SO 


SO 


\ 

WASTE    BOOK. 

15 

1                                     ^aikts,  G/iay  S,  fSfio. 

1       ' 

S 

Qyi^oeed  ^^ceivadd 

1 

5 

^z.   ^   ^'^  <^  S^^na/i/i. 
i^!/teceii}6a  o/dim>  Aid  acceh^nce,  Q^/cau  2,  S  c/d. 

1 

1 

aiam,  od 'm>u  azad^,  c/a^c/  Q^^da?/^  / ,  dz 

f?75 

OO 

p75\oo 

^'VCTIC      ^ 

1 

7 

^ontt'n^dcom^    lodn  .^adcocd  dGA\  (yzdand/ 

S^z.   ^o   ^hom/mi^dion 

^^■1 

7 

9 

(9n    ^  o/  25  dddi.  (M^az   ^o    Jodn    ^. 
8m^Z4on.     Q4mo'^  / 2474-22  (a)  2h  % 

/f9 

'  ^/ 

(95 

^/ 

&5 

/  (J                                    ■ 

.^yz.    lo    GA^^d   £&i,uadce 

<^ 

.^0ouad^  od  ^-di^eozae  Sdcficodn  €de  acdz^^lflnion 
d>z  ^ 3000,an(/  Aaic/da^ coitd  dd^  ^odd 
..^ood/  anci  da/d ^u  no^,  c/alec/  ^Aid  (/au,  \ 
/lauad^  in  U  '?nod.,  dz 

/500 

OO 

1 /SOO  OO 

^^^B 

& 

C^^nzy   (Bl^tve    d&ran  (^zancidcoj 

^dz.   ^  &dun(/zied 

t 

3 

^di^ecei/i/ea  od  dim  account  aadd  od  Q^zaiAen^aied 
/lez  &di/z  &d(a^dou7ic/,  ^  ^z.  od 
Q^Z(dven^ze  /zez    &dtaadou7i{/,   OA^.   /, 

4 

n&^  7^zoceec/<t  od  SO  dadi  ^-&cnny  ^^a^, 
Od  /lez  account  lUidd 
Q^t(di/en{aze  /z&z   (^i^doand,   Q4^.  2, 

ne^  ^zo€ee(/d    /OO   ddd.    !^ozd,    ad    /zez 

/(^J?0 

OO 

accoa^  dodd 

/4(?S 

25 

3/(95 

25 

i^u^HL 


^1   ! 


!i  i 


!lf 


16 


WASTE    BOOK. 


^o^/o7i,     fuTie  -^O,  if  ^1^0, 


<9 


6" 
<9 


S 


&X€nanae 


'■t.   €o   &^(em^    (k^owe 


^d'c/  o?i  zem^atance  o/  / 2000  (a)  3  % 


30 


fD 


0xcnann6 


T 


^Z.    ^O 


m 


7 


t^AC 


^A'e/  on  zeTnU^nce  o/ ^ /0^2.4y  (a)  3  ^q 


unaiteif- 


fD 


Z.     /O     &XC, 


''^c/ui 


o/  Q^cli^nluzed  fiet  4/11/1    Qy  ^aa/iouncl   ^o 

aeoU  o/^ 
Q^ai/en/aie  /lez    O/ifaan^una,    GAo.    / 

3  y^   on  icTnU^ance  0/ /tzoccmd 
G>tc/i/en^uie  /lei    Qy/an/wun(/,    GiAo.  2 

3  y^   on  zefni^lance  of  /izoceet/d 


^O 


00 


3^ 


4P 


43 


7<9 


22 


56 


^000 


327^ 


p2  7^ 


NOTE    BOOK. 


FORM    OF    NOTE   BOOK. 


17 


Left  hound  C 

Vage. 

en.   J. 

^ 

• 

^ne,    ^^^0. 

Date. 

From  whom  received. 

On  what  account. 

Time. 

When 
due. 

Amount. 

RemarkB. 

¥i5p. 

- 

6  moa^. 

B500 

00 

QS^.dy(^^  ^and 

^ght  hand  (Pag-e. 


Q4i^     ^Mij/cJ^e    iti    Q£i^,    f^^O. 

Date. 

To  whom  payable. 

On  what  account. 

Time. 

When 
due. 

Amount. 

Remarks. 

^^60. 
^n.  S3 

'^natd)4-  ^toa^y 

'^u/nn/u  S^cM^  het  €^ 

4  moa-. 

96 

^i50 

00 

• 

3 

18 

CASH    BOOK. 

1 

CASH    BOOK. 

19 

1 

1 

^..  ' 

/(9tfo. 

/S(^o, 

1 

1 

^n.  2 

/ 

Q/o  (Sf/ocd,  j^z  ar?9ioun€  on   nane/  a€  co7n^ 
'mence/rterU  o/  M4>a(/n€i^ 

6000 

bo 

1 

2an,/p 

/ 

^z    50  vM,    Q^^M,44ed  6ouad^  ojf 

t 

/<9 

/ 

Q^Metenane/ctte,  t€€'(/o/^^^^eome  ,^^nco/n 

1 

27 

3 

^nem,  /<97<5  aa^.  (a)  25  e.  /i'^zaa^^ 

4^a 

7^ 

! 

/2o/i^z  m. 

2000 

00 

1 

Tiacc/  Waadma^nQ/nd.  1!^. /^«<?^?z^-- 

2(J 

3 

(9.    (2^  ^1^^  ^c/o/  dcm  /. 

1 

uTn  0/ t^n^azance  on  50  Oaled  ^^unn'^ 

/OO   //^.    (^Uz   ^^  Am   y2d 

1 

. 

..ziSaad  /lez  ancA  &rltaanoun(/^  (3i^an 

m&^. 

&00 

00 

1 

Q^zanct<wo,  mauzec/  i^z  ^  /4^00  (a)  3 

• 

2^ 

3 

7q,  anc/  Js  /  ^z  /i^ucu 
Q^2/en^aze   Aez    &^^dounc/,     Q4i.  /, 

43 

00 

% 

1 

/uzia  ^zucn^e  on  50  oa^  ^^^inny 

t 

1 

..^aad  fy  ddtA 

5 

00 

• 

1 

SO 

3 

Q^v&n€uze    Aez    (^la^doanc/,   Q/ro,   /, 

• 

1 

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• 

# 

1 

,.£0a^ii  /lez  ^t/z 

5 

00 

1 

^J.  / 

y 

25 

7800 

00 

1 

3/ 

,.2Sciuz7ice  on  dana 

727s 

25 
75 

7SOO 

00 

1 

.^OaazTice  on  naru/ 

727<9 

1 

.^SadiTice  on  danc^ 

P735 

1 

27 

2 

<^o  Q4^^  ^Meceiva^^,  c/tacoa/n^  ^y  (2^/fe 
^^and  ^^.    ^^.     2ameaon'it  no^e 
^z  /2500,  c^  ^ne  ^  /  ^,  anc/ 
zeceivet/ 

2457 

50 

w 

#■ 

* 

P735, 

75 

■ 

^73575 

\\ 

\\ 


ll 


m 


20 


CASH    BOOK. 


^. 


^^ad^. 


'^M 


atance  on 


nana 


(^735 


^a/a 


ance  on 


nana 


q7o   Q^Cetcnane/ufe  tec'c/  0/ J^^An  Q^foaz^ 
&da/f  A^  SOO  ^A    (^/ouz  <toa/  ditn 


(a)  /^\ /lez 


75 


7p^s 


/l^25 


7^ 


00 


^735  75 


p553 


r 


7^ 


CASH    BOOK, 


^add. 


Q/i^i.3 


4 


7 


4 


4 


// 


20 


2 


3/ 


.^^  Q4c/ven^ut6  fiez  (^^aa^ounc/,  G4^o.  2, 
/laui  Q^zandcm  Q^nd.  %o.  /^''^emc^ 
unt  0/  t'na^uzance  o?i  /OO  ^ou.  J^oi^ 
/let  aAi/i  &n^nou7Zc/^o  (^an  &^ian- 
cMco,  cnaazec/ /oz  ^/^OO  (a>  3  7o,\ 
anc/  j^ /  Az  y^odcf/ 

Q^z/en^ieyiez  G9iaadounc/,QA^.2  Jzat/J 
^zucda^  on  /OO  00^.  ^Fozd^o  adt/z 

G>tc/i/en^uze  /lez  G^ita^dounc/,  Q41?,  2, 
/laul  zonaz^ane  on  /OO  00^.  ^I^zd 
/zez  d^nt/z  . 

QAo^ed  J^aya^^,    /zacc/  no^  lo      Fodn 
Jrdeecez,  ciue  ^nid  c/au,  ^z 

Q^€aven^aZ6  /ze^  ^OTnnzoc/oze,  /zau/  ^^. 
(P.  Wazd/>z  500  U^.  Mx^in 
Ooizam  0/ dz?n  (a)  ^ /^  /zez  ^^/,j  anc^ 
anzA/zeci  ^  c^z^^vez/zooz  AeZi^dt/z  ^^ofn^ 
nzoaoze,  conaoanea  ^o  ^^dn  (^^zaazc/ 

auznoe  on  dancl 


Q^/z,30 


,^0adz 


Tice  on 


nana 


4S? 


4 


4 


/OOO 


00 


00 


00 


00 


750 

7(^2^ 


00 

7^ 


p553 


75 


21 


^. 


^73575 


P553  75 


\ 


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22 


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^. 


^add. 


Sp 


2 


Zuney 

4 


^^a/ance  on  /umc/ 

ance  c/ue  ^Om  m<^t 

A<}?7i    To/m  S^wazc/  ad  ne^  fnoceec/d 
o/ 500    ^-^'     !^^^^n    con^i^neci  {o 

nc?n 


p553 


7^ 


^75 


oo 


6 


a/ance  on  nana 
q/o   ^on^Mnmenl  ftom  J'odn   ^a^cod, 

/.  ^.,  4y,^s7  ^^.  ®  ^^'  . 


yo/7 


^02^6 


33 


0& 


//54^ 


OS 


2474 


22 


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23 


/2770 


30 


^€iifd. 


Vz. 


o£u2d 


2 


3/ 


•^^y  Q^^<f  .^!&iya^^,yiac(/  no^  lo  ^naz^ 

^Pzod-^u,  aae  ^/^  cuiy,  J[?z 
m2^auznce  on  nana 


J^ne/ 


2 


^2 


^ 


^ 


^ 


P 


"fu  ^^on^canTTien^  ifio?n  Zonn  ..^^aococd 
/QA\  (yzAaTidy,  /i^u/ ^  t^nc/^  (^^Con^ 
Tnou^n  ^'Ccan^  on  con^uanTnen^  0/  23 
nnc/d.    (3^uaaz  j/zo?n  JT.    «^! 

^^on^tanTnen^  ^^om  Zon'n  .^Savcocn, 
/lata   ^zacdaae  on  25  nnc/d.  &^if^z 

^onacanmen^  -^coni  J^nn  -^a^cocd, 
/i^oM  ti^naz^i^  on  25  nnc/d.  (^uaaz 

'10^e<^lezn  ^^a^zoac/  (^locd,  /lau/  -^z  /O 
ttnaa^ed  (a)  ^  ^j!?0  /i^z  <maze 

am^nce  on  nancC 


/250 
/02(^tJ 


00 
0<9 


/OO 


/OOO 

//6d'o 


00 

00 

00 

00 
30 


//54^  'OS 


/2770\30 


24 


CASH    BOOK. 


'z. 


^Otfd. 


20 


30 


a 


^ 


atance  on  nana 
o  (^^nt?/'  &^owe,  zec'c/  0/  ^.  Q^.  (^uiCc 
amount 0/ aia/l on  nim,  zecect/ea  /io7n 
S^.     (§/c.    on    account    /ttoeeead    0/ 
Q^^ven^fize4  /let  d^/uA   O/^anoana 
S^emu  S^K^e,  zec'c/  0/  ^,  (^.  Swu 
amount  o/aia^  on  ni,m  zececuea  JioTn 
(knf.  S^.,  ^cna  Quince  0/  Azoceead  oj^ 
Q/taj/e^n^zed  /let  d^ucA  Q/ita^AouTia 


//^^^ 


sooo 


/or^2 


30 


00 


47 


/4752 


77 


S^ 


/& 


7 


25 


30 


^ 


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// 


CASH    BOOK. 


^^aan^. 


^.(9.^Azd/^z4ooad.Mod^ 

oou^d^  o/d^m  (a)  ^/i  Aez  ^^,  ano^ 
dniAAea  ^  ^^zii^et^oc  Aez  ddt^A  <^ea 
(S^wt4Aez,  condt^Tiee/  {o  ^^nn 
azc/ 

&cdz.  ^clnwn,Aau/  ^-^eozae  ,^£^ncoi 
acdz.     ^clnton,     ifi     Aat^.  /(2% 

^ondM^n7?ten^   Ao??t     2onrn    ^^a^cocd, 

cocA'd  aza/it  j^t  ne^  Azoceec/d   G^u^m[/z 

Aet  dncA   G^nmoum 

Oic^nde,^cc/  zene  0/  (^i^oze     400 .OO 

"      Aod^ae  o^  /  .7O 

d^^nez^  "  /5 .20 


z 

ee 


7nez/u  " 


^aA 


25 


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^ 


^«. 


^00 


00 


/500 


930S 


00 


37 


4^6 
^p33 


po 

50 


/4752 


77 


26 


INDEX. 


INDEX. 


ii 


It 


„  "  "    2.  4 

B. 
C. 


D. 

K 

Sxcnanat 

^<? 

SxAende, 

/^ 

F. 

• 

G. 

H. 

STS>we, 

S^l^na^* 

S 

I. 

J. 

K. 


ST..  5 


M. 

N.    ■ 


0. 

p. 

Q- 
R 

S. 

T. 
U. 

'Pinion,  Item.,  7 

V. 

w. 


^y^e^iem  MoAxJ  <^iocl  p 


Y. 
Z. 


LEDGEE. 


27 


z. 


(M>cl 


z. 


Zci/n.    2 
idiTie  So 


Q4ii 


/ 


/ooo 


oo 
oo 


/5B4^ 


Jl^ne  30 


/ 

2 


oo 


/^d'o 

2une  SO 


GMezcna?iat^e, 


6500  OO 

46<^75 


//4S 


7^ 


&//2 


50 


Y^d'o 

(^J,     2 

q£c4.  / 

G^/iz.20 
27 
2^ 

J^ine  SO 


2 


S 


pooo 

5000 
/24^ 


/524(^ 


00 
00 
00 


00 


z. 


&00 


00 


0. 


ooo\oo 


ysoo 

^/2 


00 
50 


S62  so 

4/250 


/(^25 
400 


S//2 


00 
00 

SO 


28 


LEDGER. 


LEDGER. 


29 


S 


^^. 


OATo^er^  Jzcec6C2/au^. 


(^^ocd 


^^. 


Zane  SO 


^a,d 


^u^ 


ance 


2 
3 


2500 


OO 


2500  OO 


^/2 


!  27 


/7^7 


50  \Qy//^y// 
Oo\^ne30 


SO 


OAfo^t^  ^anav^i^. 


4 

6 


yooo 

^950 


2250 


/500 


OO 
OO 


OO 


OO 


23 


Zune  /cf 


Z, 


2 
/ 


42 
2457 


50 
SO 


2SOO  OO 


(2^/.    Pinion 


/ 


3 


P7SOO 

^/2SO 


/7^7 


so 


z. 


/ooo 
y2So 


22S0 


/soo 


OO 
OO 


00 


OO 


I 


( 


^  1 


^^ 


^. 


a(^. 


I, 


/6'^0 
/an.  /2 


Q^/CezcnanciMe 


/ 


S'OOOO 


/&^o 

2an.  2(?\  ^a<^4 


/ 


6^00  OO 


^z. 


(3^c/'i^e7i^uz6  /lez  &ri^ciadounaj  QyYo.  /. 


z. 


J^an.  23\GMle4(2Fay^^6 
27^a<i4 
2<9 


30 
ifune  30 


/ 

2 


0xcnanae 


4 


^2SO 


OO 


4300 
SOO 
SOO 

4(7.22 
337  76^ 


/S'^O 
Zine20 


/Opooo 


(^Cemu  (^cowe 


3 


/{j(;^o 


OO 


/(jpooo 


30 


LEDGER. 


4 


'«. 


r 


5 


7 

Zu}ie  30 


Sxcdanae 


2 
4 


/50000 

4^00 

400 

4PO 

4356 


y^6o 

i!ane  20 


/6o(^6 


'6. 


^^6o 


2 


30 


loe 


emu 


3 


(2/n/eze<>^, 


42 


SO 


/6'6o 
Zune  30 


.^zoA^  &  <^£^t 


Z, 


^4^5 
/05 


/6oo 


25 
3/ 


56 


z. 


42 


SO 


LEDGER. 


^. 


Q^c/^eTi^uze  /i^ei  ^ommodoce. 


^^6o 

Q/^J20 

j©^  2p 


4 


750 
267\33 


Y^6o 
OO  ©^  2^ 


^0/7 


33 


^adn^ 


^. 


eome  Q^  (^^oM^,  ^ozaand. 


^s6o 

€/i/20 
27 


Q/^uzcnaTu/u 


■tde 


2 


// 


562 

4^2 


SO 
SO 


P7S 


00 


/<96o 


Q4^o^6^  Mec'M 


3 


31. 


5 


y 


/O/733 


/O/7 


33 


Vi. 


P7^ 


05 


00 


00 


I  * 


32 


LEDGER. 


LEDGER. 


33 


^. 


«. 


Zo/cl    A     c=v^c^. 


^. 


/^ 


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^,2 


/05 


3/ 


4250 
4/(^  PO 
/24(^  \00  i 


/^/O  7/| 


/Mo 

JCune  30  Q^CezcnaTiaMe 


267  33 

//437^ 
3377s' 

(J/\S5 


/S/07/ 


^J6.       ^o?t^c</7imen^  /torn  £  ^a^cocd,  (34C  Oc/eanri.        ^^ 


^ 
«. 


/S(JO 
\    /une    4- 


/  ^a<^^ 


2 

4 
25 


<9 


^/<9S 

/OOOO 

500 

500 

2302\37 


/i9(^0 
Zune   4 


2474  22 


'OdfO 


2474  22  j 


2474 


22 


/<9^0 
Jnine  30 

(^to/a^.^>o^ 

tf/ 

S6 

/Mo 

J^une  4 

^on/mj:^. 

3 

^/ 

&J 

* 

^^,                                     G^/^.   ^.^^.                                         ^z. 

/Mo 

j^une  /<9 

3 

<9 

/500 
/500 

00 
00 

00 

/Mo 

/ufie  SO 

.^aaince. 

3000 

00 
00 

3000 

3000 

II 


'  9^,'  W     T— ^W^-^ 


34 


LEDGER. 


^ne20 

1 

&uncA^ 

3 

3/^5 

25 
25 

/^6o 

^ne20 
30 
20 
30 

0xcAan^ 

4 

7 

do 

32 
2000 
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OO 

7§ 
oo 

47 

25 

3/^5 

3/(95 

• 

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/s(^o 

30 

4 

do 

32 

OO 

7S 

Zune  30 

&runc/tce4 

4 

J?2 

7<9 
7<9 

p2 

^2 

^. 


/^do 

^ne  /2 


^(Mn^ 


^. 


/^do 

lane  /5 


^odd 


LEDGER. 


^red^e^Ti   .^/tat/waa    Q/locd, 


d 


/ooo 


oo 


/^do 

Zune  30 


:Si^a^ 


nee 


G^az^enlut^e  /g^et  (S^ea  Qru^zcAez^. 


<9 


doo 


00 


/^do 

ZuneSO 


^(Ji 


11C6 


S5 


z. 


/OOO 


oo 


z. 


doo 


oo 


i  f 


I 


36 


/<? 


^. 


^uneSO 


^aU 


'z. 


Jnine  30 


6> 


LEDGER. 


OxAcTldC, 


4/^ 


po 


j^une  30 


Mo/a^^^ 


J^a/a^ 


a/ice. 


3000  00 
/OOOOO 

6oaoo ' 

p(?33  50 

/5746  oo 


^. 


4/(^ 


po 


«. 


ysoo 
^4^4(^ 


oo 
oo 


ys74(^ 


oo 


TRIAL    BALANCE. 


37 


o/ua/  ^a/k7zce,    /a^t^    S/,    /^^. 


Q/{(/'i}.  /let  (^^anUoarif/,  GAo.  /  j| 


/OOO 


00 


/ 


^4000 

2^00 


oo 

00 


4/6^ 

2500 

^303 

727^ 


75 
00 

00 

25 


/3000 


/5250 


2250 


00 


00 


00 


^5250  i  00 


G/ua/  ^a/ance,    /une    SO,    //^. 


(^^iezcminao<p6 
OA^^d  ^tece^vaOce 


lauaOCe 
GA.  /le^  (^{aadoancA  OA^o.  / 

-     2 

Mo/a  ^  ^^ 

cfiz.    ^clnton 


/ooq  00 
6r^66^  J5 
/76>7  50 


/352 
/()00 


22 
56 


/4OOO 

77/2 
05 

/(J(^0 
^4^5 


00 
50 

00 

00 

25 


6^/2 


/05 

42 


50  \ 


I /3000 
743 

/500 
337 


3/ 

50 


3000  00 

I       i 

yooo  00 
600  00 
4/^  po 

pp33  \50 


2(j7 


00 
00 

7& 


33 

<95 


/5p/0 


7/  \  /5p/0 


// 


rtF*- 


m       w     1 1  '■ 


M 


38 


MERCANTILE    FORMS. 


MERCANTILE    FORMS. 


NOTE. 


/ ^000,00  Motion,   QA^ta.   /4,  /c?4^ 

nn     /jrnee^Z  C/ne  mouiiana    ao/uud,    vame    zeceti^ea. 


BILL. 


Q/L  ^  (^,^ad/ce^ 


^o<^^on,  ^n.   y2,  ^(9()0 


(iWH 


/oo  M.  <^A 


uz 


..^iootMn^   o/  &dwaza    /ri^ 

Co)  /^  /<900. 


INVOICE. 


vouna  /lom   ,.^!So<t^n    ^o    &an  ^zanctaco,    cond^tanea   /o    G^ci.    (^l(enzu     S^i4^e 
^z    iMUii    ana  ze^uznd 


50  ^A    ^^O    ea.  =.  /2,500 


'Mnn?t 


lu    .^<jaad 


"aoii  /«)  /O 


Ofn 


rutuzance 


43. 


^^dazaed 
Q/zucdaae  ^^ 


5. 


^od^on,  Jkn.  23,  /i^do 


MERCANTILE    FORMS. 


ACCOUNT    SALES. 


39 


7ane  (^a/ki  o/  25  4d(/d.    (^aaaz  zecet^va/ fiez   (^di/i.   Q£on77wud,  ^i  accoune 

o/ /odn   MadcocA   QyVem    0%/eans. 


25  //^   =  4/^37  S<i.    (^yaz  (a)  ()  c. 


'iPmizaei} 


T 

(^zemn^ 

oTzucda^e  ^-         /rdazdzae  ^^ 

'emimi^cofi  247 ^-^^  ^  ^^  /o 

GAie/i 


.  0.    0:^. 


^o<f^n,     lune  4,  ^<^60 


ACCOUNT    CURRENT. 


Q^id.     Sc/maz(/  yfidpon   m     Q^ceoura    ^uzzen^  toM     '<2^ce?izy 


z?/'     G/Coia^. 


^u    na  Azoceedd   50   ^oAi   ^anny  ^ar^d,  fi 

ddi/i^   &/^^^dotina 
..        ^00  //^.    ^ozd,      c/o. 
Q/o  zemc^lance  in  aza^  on  ^.    c^. 


,,    Sxcdanae  an^emU^nce  0/  Jf  2000  (a>  3  7^ 

"    zemU^nce  in  (7za^  on  ^.    (^-    Q^cc 

//    Sxcdanae  on  temi^^nce  0/ ^ /0Q2.47  ^  ^  /o 

(^an  ^zancitco,  ^^^ane  ^O,  /^OO 

mzu 


Z06 


z. 


2000 
60 

/0^2 
32 


3/<95 


00 
00 

47 
7^ 


25 


/()pO 
y4j?5 


3/(95 


00 
25 


25 


H 


F 


40 


I 


MERCANTILE    FORMS. 


DRAFT. 


/p75,oo 


(^ive    (/am    a/hz    &(adl,  /i.au   /o    Ine    ou/et   o/  m.i/^pec/  Q/nne 
S^unc/iec/  anc/    (^even^?^-/cv6    ^^oaaid,    va/tce    teceivea,    ana    cnazne    me    <^am6    {o 


BOOK-KEEPING. 


account  of 


..  ^ 


eot/jo  ^'  Q^i  nah/i, 


^ti^eotai 


^  &awaza    /rutwn. 


'Mi/tanc/,   G>/lc 


ACCEPTANCE. 


The  a\)ove  Draft  would  become  an  Acceptance  by  the  \rritmf;  by  the  person  to  whom  it  was  addressed,  acroas  tJieface,      \ 
(usually  done  with  red  ink,)  as  on  page  8;  and  when  it  is  paid,  the  signature  of  the  person  in  whose  favor  the  Draft  was         'I 
made  would  be  written  across  the  hack. 


A  J 


BILL    OF    EXCHANGE. 


Q/^^  i^cn/i^  o/ mcd  2f^U^  o/  Sxcdan^e,    /tteconc/  am/ 
^dlzc/  o/  ide  ^aTne    /enoi  aTic/  c/a^e    un/iau/,^  fiay  ^o  {Ae  oz</ez    o^  &c/waic/  yric^7v{ 
(9ne  oT/iotK^anc/  anc/  OA^nay-^iao    anc/  -fjj    ^^o//az<f,  va/ue    zeceti/ec/,  anc/ ^i^/ace  me 
^aTne  ^o  account  o/  ^/        ^^      _/27 


Two  additional  bills  are  required  to  complete  the  above  "  Set  of  Exchange  ; "  one  reading  "  this  Second  of  Exchange, 
(first  and  third  "  "  unpaid,)"  and  the  other,  "  this  Third  of  Exchange  (first  and  second  "  "  unpaid.)"  One  of  these  bills  being 
paid  by  the  person  to  whom  they  are  addressed,  (i.  e.,  the  person  on  whom  they  are  drawn,)  the  remaining  two  become  null 
%nd  void. 


41 


EXAMPLES    FOR    PRACTICE. 


Commence  business  in  Boston  on  the  2d  day  of 
July,  1860,  with  50  bbls.  Flour,  worth  $8  per  bbl.; 
schr.  Union,  worth  $3000 ;  10  shares  Western  Rail- 
road Stock,  worth  $100  per  share ;  400  bbls.  Rosin, 
on  board  ship  Sea  Flower,  on  her  passage  to  Liv- 
erpool, which  cost  $1^  per  bbl.,  (consigned  to  John 
Howard,  to  be  sold  for  your  account ;)  Joseph  Mar- 
shall's note  for  $812.50,  dated  March  1, 1860,  pay- 
able in  6  months ;  $  9933.50  in  Bank  ;  —  and  owing 
George  Lincoln  a  note  for  $1500,  dated  June  18, 
1860,  payable  in  6  months,  and  make  the  original 
entries  therefor  in  the  Waste  Book  and  Cash 
Book.* 

On  the  10th  of  July,  buy  of  George  Lincohi  100 
bbls.  Molasses,  containing  3820  galls.,  at  24  cents 
per  gall.,  cash,  and  make  the  entry  in  the  Cash 
Book. 

On  the  13th  July,  buy  of  Brastow  &  Co.  500 
kegs  Syrup,  (5  galls,  each,)  at  43  cents  per  gall., 
cash,  and  ship  the  same  to  San  Francisco  per  ship 
Winged  Arrow,  consigned  to  Henry  Howe,  to  be 
sold  for  your  account,  and  make  the  entry. 

On  the  14th  of  July,  buy  of  Charles  Crosby  100 
bbls.  Beef,  at  $14  per  bbl.,  for  your  note^  dated  the 
same  day,  payable  in  G  months,  and  ship  the  same 
per  ship  Winged  Arrow,  consigned  to  Henry  Howe, 
to  be  sold  for  your  account,  and  make  the  entry  in 
the  Waste  Book. 

On  the  16th  July,  pay  premium  of  insurance  on 
the  Syrup  and  Beef,  (insured  by  the  Washington 
Insurance  Co.,  $1150  on  Syrup  and  $1450  on  Beef, 


*  Note.  — Blank  books  for  the  Examples  for  Practice  accom- 
pany this  book.  The  Waste  Book  has  four  leaves,  and  the  Cash 
Book  six  leaves,  and  they  are  ruled  alike.  The  first  two  pages  of 
the  Ledger  are  intended  for  the  Index.  Allow  five  lines  for  the 
letter  A,  and  three  lines  for  each  of  the  other  letters  of  the  al- 
rhabet. 

6 


at  3  per  cent.,  and  $1  for  policy,  charging  half  of 
policy  to  each  shipment,)  and  make  the  entries. 

On  the  3J  St  July,  sell  O.  S.  Littlefield  50  bbls. 
Flour,  at  $9^  per  bbl.,  on  account,  and  make  the 
entry. 

Balance  the  Cash  Book  for  the  month,  and  if  the 
entries  have  been  correctly  made,  you  will  find  the 
balance  on  hand  to  be  $7862.70. 

Post  the  entries  of  the  Waste  Book  and  Cash 
Book,  and  take  Trial  Balance  of  the  Ledger,  in- 
cluding the  balance  of  Cash.  When  the  whole  has 
been  correctly  done,  the  Dr.  balances  of  the  Trial 
Balance  will  be  found  to  be,  besides  Cash  as  above, 
Merchandise,  854.30,  schr.  Union,  3000,  Western 
Raih-oad  Stock,  1000,  Adv.  per  Sea  Flower,  600, 
Notes  Receivable,  812.50,  Adv.  per  Winged  Ar- 
row, No.  1,1110,  Adv.  per  Winged  Arrow,  No.  2, 
1444,  and  O.  S.  Littlefield,  462.50 ;  and  the  Cr. 
balances  will  be  found  to  be,  Stock,  14,246,  and 
Notes  Payable,  2900.  The  aggregate  of  either  the 
Dr.  or  Cr.  balances  will  be  found  to  be  $17,146. 

On  the  1st  Aug.,  sell  to  B.  D.  Jameson  the  schr. 
Union  for  $3750,  for  his  note  dated  the  same  day, 
payable  in  6  months. 

On  the*8th  Aug.,  receive  from  O.  S.  Littlefield 
$462.50,  amount  charged  hhn  31st  July  for  Flour 
sold  him. 

^  • 

On  the  10th  Aug.,  pay  wharfage  on  Syrup,  $5, 
and  on  Beef,  $4,  shipped  per  Winged  Arrow. 

On  the  17th  Aug.,  pay  truckage  on  the  Syrup, 
$5,  and  on  Beef,  $4. 

On  the  31st  Aug.,  buy  of  Brastow  &  Co.  300 


f 


i 


42 


BOOK-KEEPING. 


f 


Ml 


hi  I 


,. 


bbls.  Flour,  at  $8  per  bbl.,  for  your  note,  dated  the 
same  day,  payable  in  60  days. 

Proceed  with  the  posting  as  at  the  close  of  the 
preceding  month,  and  close  the  account  which  bal- 
ances itself,  and  also  close  schr.  Union  account  with 
Profit  &  Loss,  the  vessel  having  been  sold. 

The  aggregate  of  the  balances  of  the  Trial  Bal- 
ance will  amount  to  $20,296. 

On  the  3d  Sept.,  sell  Western  Railroad  Stock, 
at  $97  per  share,  cash. 

On  the  4th  Sept.,  receive  from  Joseph  Marshall 
the  amount  of  his  note,  due  Sept.  ^/^y  for  $812.50. 

On  the  11th  Sept.,  receive  from  John  Howard 
Exchange  for  £185  stg.  for  proceeds  of  Rosin  per 
ship  Sea  Flower,  and  sell  the  Exchange  to  C.  F. 
Hall,  at  8  per  cent,  premium. 

4 

On  the  2oth  Sept.,  receive  per  ship  Electric  Spark, 
from  New  Orleans,  20  hhds.  Sugar,  a  consignment 
from  John  Babcock,  and  pay  freight  from  New  Or- 
leans, $100.  On  the  27th  pay  wharfage,  $5,  and 
on  the  29th  pay  truckage,  $5. 

After  posting,  close  Western  Railroad  Stock  ac- 
count with  Profit  &  Loss,  the  stock  having  been 
sold ;  also  close  Adv.  per  Sea  Flower  with  Profit 
&  Loss,  the  proceeds  having  been  received. 

The  balances  of  the  Trial  Balance  will  amount 
to  $20,554. 

On  the  2d  Oct,  sell  John  Babcock's  Sugar, 
weighing  33,120  lbs.,  to  John  G.  Emerson,  at  6^ 
cents  per  lb.,  cash,  and  charge  the  consignment  a 
conmiission  of  2  J  per  cent,  on  the  amount  of  sale. 

On  the  9th  Oct.,  sell  George  T.  Knapp  50  bbls. 
Molasses,  gaugmg  1915  galls.,  at  30  cents  per  gall., 
on  account. 

On  the  12th  Oct,  sell  George  T.  Knapp  200 
bbls.  Flour,  at  $9  J^  per  bbL,  on  account 


On  the  20th  Oct.,  receive  from  George  T.  Knapp 
his  acceptance  of  your  draft  for  $2399.50,  at  5  days' 
sight,  (draft  accepted  Oct.  19,)  for  Molasses  and 
Flour  sold  him. 

On  the  27th  Oct.,  receive  from  George  T.  Knapp 
amount  of  his  acceptance,  due  Oct.  ^/^j . 

On  the  31st  Oct,  pay  to  C.  F.  Hall,  John  Bab- 
cock's  draft  on  you  at  sight  for  $1988.98,  for  pro- 
ceeds of  Sugar  per  ship  Electric  Spark. 

Aft;er  posting,  close  the  accounts  which  balance 
themselves. 

The  balances  of  the  Trial  Balance  will  amount 
to  $20,607.82. 

On  the  2d  Nov.,  the  State  Bank  discounts  for 
you,  at  your  request,  B.  D.  Jameson's  note  for 
$3750,  dated  Aug.  1,  payable  in  6  months. 

On  the  2d  Nov.,  pay  Brastow  &  Co.  your  note 
due  them,  Oct.  3o/Nov.  2 ,  for  $2400. 

On  the  30th  Nov.,  sell  Joseph  Marshall  50  bbls. 
Molasses,  gauging  1905  galls.,  at  32  cents  per  gall., 
cash. 

Post,  close  accounts,  and  take  Trial  Balance. 

On  the  7th  Dec,  buy  of  George  Lincoln  the  brig 
Massachusetts,  for  $8000,  cash. 

On  the  15th  Dec,  receive  from  Henry  Howe 
account  sales  of  the  Syrup  and  Beef  per  ship 
Winged  Arrow ;  net  proceeds  of  the  Syrup  amount- 
ing to  $1462,  and  the  net  proceeds  of  the  Beef 
amounting  to  $1443.  Also,  receive  from  him,  on 
account  of  proceeds  of  above,  a  draft  (which  has 
this  day  been  paid  to  you)  on  C.  F.  Hall,  for  $1500, 
with  3  per  cent,  exchange  on  the  same  paid  in  San 
Francisco,  and  charged  to  you  by  Henry  Howe. 

On  the  I8th  Dec,  ship  75  bbls.  of  the  Flour 
which  you  have  on  hand,  and  which  you  value  at 
the  market  price  of  $9^  per  bbl.,  per  ship  City  of 
Boston,  to  Liverpool,  consigned  to  John  Howard,  to 
be  sold  for  your  account 


BOOK-KEEPING. 


43 


) 


On  the  21st  Dec,  pay  George  Lincoln  your  note 
due  him  ^V^,  for  $1500. 

On  the  28th  Dec,  receive  from  Henry  Howe,  in 
full  for  balance  due  for  net  proceeds  of  Syrup  and 
Beef,  per  ship  Winged  Arrow,  a  draft  (which  has 
this  day  been  paid  to  you)  on  C.  F.  Hall,  for 
$1320.39,  with  3  per  cent,  exchange  on  the  same, 
paid  in  San  Francisco,  and  charged  to  you  by  Hen- 
ry Howe.  Charge  the  two  Adventures  with  the 
exchange  on  the  proceeds,  (received  15th  and 
28th,)  as  explained  on  page  9. 

On  the  31st  Dec,  pay  rent  of  store,  $400,  post- 
age bill,  $1.21,  stationery,  $12.30. 


Balance  Cash  Book,  post,  close  the  accounts 
which  balance  themselves,  and  also  close  such  as 
may  be  closed  with  Profit  &  Loss,  and  take  Trial 
Balance.  Balance  of  cash  will  be  found  to  be 
$8240.  The  aggregate  of  balances  of  the  Trial 
Balance  will  be  found  to  be  $17,455.79. 

Close  the  Ledger,  as  explained  on  pages  11  and 
12,  estimating  the  25  bbls.  Flour  on  hand,  unsold, 
at  $9 J  per  bbl. 

If  all  the  entries,  the  postings,  and  the  closures 
have  been  correctly  made,  the  net  gain  will  be 
found  to  be  $1519,  —  the  balance  transferred  from 
Profit  &  Loss  to  Stock ;  and  the  capital  will  be 
found  to  be  $15,765,  —  the  balance  transferred 
from  Balance  to  Stock. 


" 


! 


^■^■^^^W],  m  '* 


u 


BOOK-KEEPING. 


QUESTIONS. 


What  is  Book-Keeping  ? 

What  are  the  names  of  the  three  principal  books  used 
in  book-keeping  ? 

What  does  the  Cash  Book  contain  ?  The  Waste  Book  ? 

The  Ledger? 
IVhat  do  accounts  represent  ? 
What  is  the  left  hand  side  of  an  account  called  ?    The 

right  hand  side  ? 
In  making  an  entry  of  a  transaction,  the  titles  of  how 
many  accounts  are  named  ?  What  relation  have 
they  to  each  other  ?  What  four  things  are  to  be 
considered  in  making  an  entry?  What  principal 
fact  is  to  be  remembered  ? 
In  commencing  business,  what  account  represents  the 

capital  received  into  the  business  ? 
What  account  is  debited,  and  what  credited,  when  you 
buy  goods  and  give  your  note  for  them  ?  When  you 
seU  goods  and  receive  another  person's  note  for  them  ? 
When  you  sell  goods  on  account  ?  (say  to  O.  S.  Lit- 
tlefield.)  When  you  receive  from  any  person,  to  whom 
you  have  sold  goods,  (say   to  G.  T.  Knapp,)   his 


acceptance  for  the  value  of  said  goods  ?  When  you 
pay  your  own  note  ?  When  you  receive  the  money 
for  the  note  of  another  person  ?  What  additiond 
account  is  debited  if  this  last  note  is  discounted  by  a 
bank,  or  otherwise,  before  it  is  due  ? 

What  is  posting  ? 

Posting  an  account  consists  of  what  ? 

When  a  Ledger  account  balances  itself,  what  must  be 
done  with  it  ?    How  ? 

When  and  how  do  you  take  a  trial  balance  of  the 

Ledger  ?    For  what  purpose  ?     How  can  you  tell 

that  the  purpose  is  accomplished  ? 
What  is  the  object  of  closing  the  Ledger  ? 
How  are  all  Ledger  accounts  —  except  Stock,  Profit  & 

Loss,  and  Balance  —  closed  ? 
What  kind  of  accounts  are  closed  with  Balance  ?  What 

with  Profit  &  Loss  ? 

How  are  Profit  &  Loss  and  Balance  accounts  closed  ? 
What  will  the  balance  from  Profit  &  Loss  show  ? 
What  will  the  balance  from  Balance  show  ? 


i   t 


I 


^a.7 


Sargent 

Tha  theory  and  praotioe  of  book- 
keeping  ••• 


COLUMBIA  UNIVERSITY  LIBRARIES 


Vjt     . 


0044258585 


pih 


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/h5H  ^^3frM£[-| 


IIAR 161994 


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* 


■  ^.J3^^.^.. 


1 


-^  -^ 


131  WASHINGTON  STREET,  BOSTON,  KASS., 


HAVE  JUST  PUBLISHED 


Manual  of  Agriculture. 


Ppepared  under  tlio  dirr  ■*^-'>^' 
of  the  Massachtisetts 

jilt'iTj,  Watfci-    M  luuren,  etc 


md  publishr  '  • '^'i  the  sanction* 

lk).ird  of  A  ire.    An  Ek*- 

d  Practice  of 

■-,  ilie  Atmos- 

tlur  I'r  fiHiatiun  ol  Lands,  the 


nnnot  f'lii   u.  i  nruuiond  it  to  gon- 
irultnro  of.  ^I'ssirhasetts,  after 


iven  to  this  Man- 


CulUire  oi*  Sj>eoiai  .>ops,  the  Princii^les  of  Rotation,  the  Dis- 
eases and  Euemies  of  Growiu,'  Plants,  the  Choice  and  Man- 
aj^ement  of  Farm  Stock,  and  the  General  Economy  of  the 
Farm  and  H  jusehold.  For  the  Cse  of  School,  Families,  and 
Farm  Ts.  by  Gkorge  B.  Emkkson,  for  ni.my  years  con- 
nerted  with  the  Massachusetts  Board  of  Education,  and  au- 
thor of  a  valiMblo  Report  on  the  Tn  os  and  Shrubs  of  Jlassa- 
chusetts ;  and  Charlks  I...  Flint,  Secretiiry  of  tlio  Massa- 
chusetts Stnte  Board  of  AfrrlrU'lture,  author  of  a  Treatise  on 
Milch  Cows  Jind  Dau-y  Faraung,  Grasses,  and  Forage  Plants, 
etc 

,'   ILLUSTRATED  BY  MANY  ENGRAVINGS. 

T^'  s  worli  supplies  a  want  lon.:^  and  <:«'^"^iv  felt  in  our  public 
dn  ,  and  tt)     lldciity,  <:.u"e,  jind  pr  ;^ood  sense  witli 

>  i'  .u  it  has  bCi-u  prep,;  -  ^     -.n.irwf^  f-. 
•r  ti  lavor.    The  Board 
.1  most  '"areAii  and  thor 
lal  the /olio T.-ing  full -Hi  : 

"  Resolvrd,  That  tins  Board  appro'«^f?  of  the  Manual  of  Agri- 
culture, submitted  by  its  ar*  ■".Messrs.  Geo.  I>.  Emerson 
and  Charles  L.  Flint,  and  r  .'nd  its  publication  by  these 

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FROM  THE  CREATION  OF  THE  WORLD  TO  THE 
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and  recommend  for  our  s  hools  and  public  iistitui  oiio,AV..r.' 
ter's  Dictionary,  as  a  viy  great  improvemtini  u])on  that  'd* 
Webster's  pictoi  lal  edition.  —  E.  Pi/^rson,  D.  D.,  SupeHntend- 
ent  of  Public  hutfuctionfor  Upper  Canada. 


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END  OF 
TITLE 


